In the present study, experimental results for the mean and fluctuating velocities of a two-phase jet are analyzed using image-based measurements. Eulerian averaged velocities statistics of each phase and the mixture is obtained experimentally. With the recent improvements for describing entrainment in single-phase jets using the mean kinetic energy (van Reeuwijk & Craske (2015)-Kaminski et.al (2005)), an expression for entrainment in a two-phase jet is obtained. The Eulerian volumeaveraged equations in cylindrical coordinates for axisymmetric flow assumption are used to obtain a relation for the budget of entrainment. Various terms in the budget of entrainment are calculated with experimental results.